KEY POINTS:
The resumption of share trading in vending machine franchise business VTL Group will be a short-lived affair, says chairman Gary Stevens.
The trading halt was lifted yesterday after the market had closed, with shares set to open today at 70c.
However, the disruption to the business and the loss of key accounting staff meant VTL would not meet the NZX's October 31 deadline for reporting its result, Stevens said.
The company became insolvent and stopped trading in August after its wholly-owned subsidiary Nathans Finance was put into receivership by deed trustee Perpetual Trust.
In September VTL's directors said they had secured the necessary funding to resume trading.
The NZX-listed company's directors said yesterday they were working closely with Nathans Finance receivers Pricewaterhouse Coopers for an orderly sale of the assets of both Nathans and VTL Group.
